Basler Kantonal Bank To Launch Cryptocurrency Services In Switzerland

Last Updated on August 4, 2020 by Ope Quadri

Basler Kantonal Bank To Launch Cryptocurrency Services

From Switzerland is the report that Basler Kantonal Bank (BKB), is planning to launch cryptocurrency services.

BKB is Switzerland’s eighth-largest bank with total assets of approximately $49 billion.

It’s gathered that the Swiss government-owned commercial bank will be offering cryptocurrency services through Bank Cler, reported Citywire Switzerland Monday. Also known as Basel Cantonal Bank, Basler Kantonalbank was founded in 1899, offers retail, corporate and private banking services.

Statement from Bank Cler

Statement from Bank Cler confirms that bank is pushing for crypto services in response to demand among its younger clientele, who plans to invest in cryptocurrency assets.

Citywire Switzerland quoted Bank Cler’s spokesperson, Natalie Waltmann, as saying, “We will launch an offering for the trading and custody of digital assets next year.

In December 2019, S&P Global Ratings gave BKB a “stable” outlook which reflected on the bank’s owner and grantor, the Swiss Canton of Basel-City.

“We expect BKB to remain the eighth-largest bank in Switzerland, with total assets of CHF45 billion [$49 billion] as of June 30, 2019 .

Alain Kunz drafted in

Meanwhile, the bank has brought in the founder of Tokensuisse Alain Kunz to lead its digital asset business.

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